Banco Bpm SpA Q3 2017 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Hugo Moniz Marques Da Cruz - Keefe, Bruyette & Woods Limited, Research Division - Analyst : Have a few questions but they're all small, I think. So the first, PPA guidance, initially started EUR 40 million, EUR 45 million a quarter, then you went to EUR 30 million. Last quarter was EUR 24 million. Do you have new guidance? Then the potential net NPL target of 9%, how is that calculated? Is it net NPLs over gross loans? Third question, do you have any views on the potential ongoing impact of IFRS 9, input NII and cost of risk? And finally, when you talk about the buffer of capital, obviously, we don't know exactly how much capital it will be. But when you talk about buffer is over what target? Is it 12%, 11%, 13% for Q1? What's the level of capital where you don't want to go below that level? That's it.